About Real Estate in Framingham, MA
Framingham in Middlesex County is the largest town in the Commonwealth of Massachusetts. It is only 20 miles west of Boston with convenient transportation connections via rail, bus and other commuter services. The town is midway between Logan International Airport in Boston and Worcester Regional Airport. With its central location in New England, Framingham is an ideal location for diverse types of homeowners drawn to the town's quality of life. Due to these factors, Framingham once landed a spot on CNN Money Magazine's "Best Places to Live in the U.S," and it continues to draw families, young professionals and empty nesters seeking a semi-urban lifestyle without being in the big city.
The Appeal of the Framingham Lifestyle
Framingham is a thriving community that dates back to the mid-1600s although it was not officially incorporated until 1700. Today, it includes about 26.4 square miles of urban, suburban and rural areas.
Downtown Framingham is the urban hub where residents can link to commuter services to Boston or Worcester. The offices of the local government and the 50-acre campus of the University of Framingham are close to the downtown core. South Framingham includes the villages of Coburnville, Lakeville, Salem End Road and the downtown district. Framingham Center, which is the geographic center of the town, is also the historic district.
West Framingham is more suburban with Nobscot Village as its commercial core. The office/industrial park area near Route 9 includes the world headquarters for medium to large corporations, including Staples, Bose and Cumberland Farms along with several technology companies.
The town's local government manages the public beaches of Saxonville, Waushakum and Learned Pond Beach as well as 400 acres of wooded areas protected by public conservation initiatives.
Livability Factors
Framingham is highly rated in terms of livability factors, which include proximity and availability of basic amenities such as groceries, other shops, restaurants, schools and parks. It has a solid economic base that include biotechnology, information technology, retail and health care companies. Framingham accounts for about 40 percent of employment in the state's Metrowest area.
Local attractions include the Callahan State Park in northwest Framingham and Cochituate State Park in Natick, MA. The botanical retreat known as Garden in the Woods features an extensive selection of native New England plants. It is a 45-acre museum of rare and native plants curated and nurtured by the New England Wildflower Society.
The Housing Market
Framingham's housing stock is a diverse mix of luxury homes, mid-range ranch homes and multifamily dwellings. In South Framingham, single family residences on home sites of 0.5 acres or smaller characterize the selection of existing homes. Larger residences on bigger lots can be found in North Framingham especially in the Saxonville neighborhood that is popular for its Victorian homes.
Affordable condominium units are available in newer developments as are ranch-style housing that date back to the 1950s to the 1970s. Campanelli ranch homes, named after the gentleman who developed these homes, are popular as starter homes or pared-down homes for empty nesters who like the manageable size and the convenience of living in a one-story slab home.
Young professionals who favor suburban ambiance, availability of affordable housing and convenient location and commuter connections to Boston are part of the demographic attracted to Framingham. Executive homes are also available for those with a more substantial housing budget.
The Commercial Real Estate Sector in Framingham
The presence of world-class companies in Framingham has spurred the continued growth of the town's commercial real estate sector. Bose, Staples, Cumberland Farms, Genzyme and TJX Companies among other established businesses make up the business core. These businesses have easy access to Interstate 90, encouraging more developments along the Boston Worcester corridor. Rail connections facilitate movement of goods, services and people.
Framingham received a platinum rating from the Massachusetts Biotechnology Council's assessment of BioReady communities. Aside from its strategic location, the town appeals to startups and corporations expanding to new locations because of an educated, highly skilled and diverse workforce.
Potential for Real Estate Investments in Framingham
The Town of Framingham has all the features required for a successful commercial hub, including a central location, excellent highway connections, ground transportation and a workforce with the required background to meet high level needs of technology, health care and retail companies. As such, Framingham's residential and commercial real estate sectors will continue to thrive in the coming years.
Given the solid economic base and favorable livability factors, investing in residential and commercial real estate in Framingham has great potential for positive returns.
